I agree.you can do that but the interest won't be deductible as the purpose of the loan was to acquire a personal asset.

HiDo you mean Business name? Having an ABN is separate to having a business nameI don't think you need an ABN to register domains, or a business name – anyone can register any name now I think.And, I am not sure what benefit there would be in registering an ABN if were weren't running a business – unless you are considering getting one to qualify…[Read more]

There are many things to consider including affecting her pension or future centrelink payments.

yeah, probably LMI is the major downside, but another is higher exit fees.The sub-prime crisis wasn't caused by Low Docs, but by American lenders lending to credit impaired people on a low doc basis with low honey moon type rates. The problems began when the rates jumped and the borrowers couldn't afford to repay and just handed their properties…[Read more]

Hi ViktoriTo get the grant all of the owners will need to be first home owners – so your dad cannot go on title. If he retains an interest in the property, but his name is not on title, then you would be acting as a trustee for his share. This can make things complex. Title will not show him, just you two and if there is no mention of the trust…[Read more]

These seem like sweeping statements. The market is made up of thousands of different areas – some may go up, some may go down. you just need to pick a few areas and do some research and come to your own conclusions before buying.

have a look at the documents on http://www.bantacs.com.auYou cannot claim the deposit as this is not an expense, but capital. Interest is claimable. Not sure where plans etc come into it, but think this are capital costs and come off the CG when you sell – but this would depend on whether you intend to build and sell or to keep and rent out.

duckster wrote:
Can you afford a higher interest rate of say 12%?

Duckster, not all 100% loans are high rates. St G have one for under 9%.

you could claim the interest on the increase while it is being used to fund an investment, but once you move into it you cannot.you could sell half of IP1 to husband, but you would have CGT and stamp duty to worry about. Maybe you should look at setting up a LOC and using this to fund any shortfall on your investment loan and to pay all expenses.…[Read more]

I have just asked a few lenders if they will accept these sorts of arragements and was knocked back. Lenders now seem to be frowning on vendor finance.

I think Hard is correct, but I am not an accountant so best to check. A way to avoid this is to move in and then out again and the 6 years will start again from the date you move out.

I used excel too. Just do one sheet for each property and then a summary sheet with links to the totals of each property. I used a few commercial software programs over the years and found it best to keep it simple in excel.Can do profit and loss for each property and overall portfolio.

yarpos wrote:

Terryw wrote:
Some people need protecting from themselves. I had a friend who was bored with her rental property and having to cover the shortfall each month so she just stopped paying the loan. She just thought the bank would take it and sell it for her!!

   creative thinker….how did that work out for her?

I talked her out o…[Read more]

Some people need protecting from themselves. I had a friend who was bored with her rental property and having to cover the shortfall each month so she just stopped paying the loan. She just thought the bank would take it and sell it for her!!

All the info is out there, but sometimes going to a seminar can really jolt you into action and motivate you

Tim, don't worry too much about travel. How many times do you meet your accountant per year? Maybe once.Try http://www.guardianpartners.com.au. Mike. Based at Bella Vista, but I think they have an office in the city too.

Hi SsJust make sure you run your idea by a solicitor as you may need a prospectus for something like this if you are attempting to raise funds from the public.

the NSW Law Society has put out a notice warning solicitors to steer clear of deceptive practices which involve inflating contracts. But it is fairly common. Having the vendor pay the stamp duty of the purchaser is not as bad as openly adding a 10% discount on early settlement and if it is disclosed to the bank then there should be no problems i think.

One way to guarantee a price is to not accept anything less than you want! But you will have to be realistic if you wish to sell. Most people put their home on for a price higher than they actually want and then give a small discount when asked. you never know, you may get more than you really want.

i agree.it is certainly possible to borrow on an investment property and pay down the PPOR loan – but there will be no tax benefits in doing so because the ATO looks at the purpose of the borrowings. It this case it is to pay down personal debt.